ODA figures reveal 拢24m extra earned by CLM since November
The Laing O鈥橰ourke-led CLM consortium behind the Olympics construction project has seen its fee for delivering the job rise to 拢718 million.
The Olympic Delivery Authority鈥檚 (ODA) latest quarterly accounts figures reveal that CLM earned an extra 拢24 million since November for keeping costs down on the project.
Following the latest rise, the consortium鈥檚 project management fee is 拢718 million, with the overall development cost for the project expected to be 拢7.3 billion.
The CLM consortium consists of Laing O鈥橰ourke, CH2M Hill and Mace.
O鈥橰ourke and CH2M Hill have an equal stake of 40% with Mace owning the remaining 20%.
The ODA report stated the fee rises were 鈥渆nhanced payments to CLM due to the strong progress of the project against agreed targets.
鈥淐LM鈥檚 enhanced payments are based on performance and they are incentivised to drive down costs across the programme.鈥�
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